Most of the time, we get annoyed whenever we find a clutter of receipts at the bottom of our bags or dumped inside the unused drawers, sometimes we even use it as a bookmark. But this piece of paper is actually very significant in the area of accounting. This piece of paper speaks so much of the digits that needs to be calculated and tracked down in the inventory.
Other receipts are one-eighth size or some a size of a whole bond paper and with more breakdown details. You could see the sample receipts available for a clearer look.
Business Due Upon Receipt of Payment Examples
Payment Due Upon Delivery Sample
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What Is a Receipt?
A receipt is an acknowledgment of a person’s payment on the services or products rendered by a store or business. Usually, there is no official format of how a receipt would look like, but this should include the breakdown of the charges that the person paid for. This includes taxes, additional charges, unit prices, items, date, business information, receipt number, etc.
Of course, do not mistake receipts for invoices. Invoices are a written document that is given before any payment. Although this also contains the quantities, the unit prices, the additional charges, this does not make a supporting document as evidence that items were paid by the buyer. Observe the difference by looking at the sample cash receipts and sample invoice.
Benefits of Having Receipts
- For accounting records. This would help so much in the inventory and tracking how much money came in and how much went out.
- This could serve as a warranty or for refund. Receipts are official documents you could use whenever you need proof of payment as long as the receipt is also acknowledged by the store or business, so make sure that the receipt has its receipt number and company information.
- Can lessen the time for audit.
- Could be use to decrease taxes.
Payment Due Upon Receipt Invoice Sample
Sample Invoice Payment Due Upon Receipt
Full Payment is Due Upon Receipt Sample
How to Make a Receipt
It is easy to find sample rent receipts, but listed here in the following are simple steps you could follow to make a receipt from scratch. There are two options you could make a receipt, through using templates or constructing through Excel or word.
Steps using templates
- Open an available office program, let’s say MS Word.
- Create a new document. By clicking “New,” this could present you a lot of template options. Scroll down or type Receipt to find the receipt templates.
- Once you’ve downloaded the template, you can now start editing the information and input the details.
- Save the file as PDF to preserve the format.
Steps without templates
- Open an office program, preferably Excel.
- Insert company logo and information as header.
- Insert a table. Consider how many columns you’ll need and estimate the rows for the items portion.
- Set the headers text as bold, to make it more distinguishable from the items/services.
- Set the formula at the formula bar for the currency column.
- Save as PDF.
What Are the Parts of the Receipt?
- Company logo or company name
- Business information
- Receipt number
- Name of the customer
- Date of purchase
- Service name or items
- Total and subtotal
- Tax details
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